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Outlook The Old Lady of Threadneedle Street likes drama to be reserved firmly for the stage. So yesterday's announcement from her Financial Policy Committee on "potential amplification channels" of financial risks was characteristically short on hyperbole.

Gross Misconduct, By Venetia Thompson

It is a few months prior to the collapse of Lehman Brothers, and the City is still flying high. Venetia Thompson, a well-spoken university graduate, finds herself working among the barrow boys of Essex at a brokerage firm on the upper echelon's of Canary Wharf's mirrored towers.

Ex IG chief to chair new bank

A new bank targeting independent financial advisers is to be launched with the former chief executive of IG Index, Nat Le Roux, earmarked as chairman.

John Rentoul: Tory policies contradict their own warnings

A long time ago in an economy far, far away, a Great Leader with a reputation as an Iron Chancellor had a Golden Rule. It said that the government should balance its books, borrowing prudently when needed and paying it back in the good times. But then, in September 2008, Lehman Brothers went bust. The economy shrank; tax revenues dried up; banks were nationalised. Rather suddenly, government borrowing was forecast to go up from about 2.5 per cent of national income to 12.5 per cent – a level that would be regarded in peacetime as disastrous, as Jon Moulton points out.

The City Diary: Sibling rivalry: Life inside Lehman Brothers

Slackbelly exposes The Good, The Bad and The Ugly of The Square Mile

On the Brink, By Hank Paulson

The US Treasury Secretary defends shutting Lehmans

Letters: NHS and privacy

NHS records scheme is an attack on our privacy

Stephen Foley: The familiar themes in Lehman's latest drama

US Outlook: In Enron the Play, the West End smash coming here to Broadway in the spring, "the Lehman Brothers" are depicted as conjoined twins in a single over-size suit jacket.

Leading article: Lehman's dodgy figures

"Rep 105" is not perhaps the phrase that trips most often from ordinary people's tongues. That may well be about to change after yesterday's report by a US court-appointed examiner into the collapse of Lehman Brothers – the world's biggest bankruptcy and the primary cause of the credit crunch that brought the global financial system to a juddering halt in September 2008.

Numis loses chief finance officer after just four months

Numis, the city broker led by Oliver Hemsley, has parted company with it's chief finance and operating officer after just four months.

AIG bonus row rekindled by $100m 'retention' plan

Employees of AIG's disaster-stricken derivatives business are drawing renewed political fire after reneging on promises to hand back a portion of last year's bonus, and amid news that they are just days away from receiving another $100m (£63m) in "retention payments".

Diamond cashes in £5m shares for Christmas

Bob Diamond, the president of Barclays, has pocketed nearly £5m after selling 18 per cent of his shareholding in the bank.

Lord Levene: Men of all faiths and none can together restore trust in business

In an era where the chairman of a multinational firm holds more power than the leaders of most countries, boards need to revisit who they are working for, and why. We do not have to choose between principles and profits. Nor do they simply co-exist, they are co-dependent. A central challenge is how to reconcile differing needs. A shareholder wants profits. Civil Society may want a carbon neutral society. But when I look around me, at the members of the Council of Christians and Jews, I know that this can be done.

Capita falls on worries over hit from Arch funds

Capita stood out as the largest faller on the FTSE 100 index yesterday after the outsourcing company warned that it may end up bearing costs connected to two suspended Arch funds.

Ad revenue declines slow to 19 per cent at Johnston

Johnston Press, which owns the Yorkshire Post and The Scotsman, yesterday backed the "greater stability" in its advertising revenues, as the declines slowed over the past 10 weeks.

Watchdog orders advisers to compensate Lehman victims

Thousands of savers who lost more than £100m in investment plans backed by the failed banking giant Lehman Brothers may be in line for compensation after the City watchdog ordered financial advisers to look at their cases.

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Homeless Veterans Christmas Appeal: Drifting and forgotten - turning lives around for ex-soldiers

Homeless Veterans Christmas Appeal: Turning lives around for ex-soldiers

Our partner charities help veterans on the brink – and get them back on their feet
Putin’s far-right ambition: Think-tank reveals how Russian President is wooing – and funding – populist parties across Europe to gain influence in the EU

Putin’s far-right ambition

Think-tank reveals how Russian President is wooing – and funding – populist parties across Europe to gain influence in the EU
Tove Jansson's Moominland: What was the inspiration for Finland's most famous family?

Escape to Moominland

What was the inspiration for Finland's most famous family?
Nightclubbing with Richard Young: The story behind his latest book of celebrity photographs

24-Hour party person

Photographer Richard Young has been snapping celebrities at play for 40 years. As his latest book is released, he reveals that it wasn’t all fun and games
Michelle Obama's school dinners: America’s children have a message for the First Lady

A taste for rebellion

US children have started an online protest against Michelle Obama’s drive for healthy school meals by posting photos of their lunches
Colouring books for adults: How the French are going crazy for Crayolas

Colouring books for adults

How the French are going crazy for Crayolas
Jack Thorne's play 'Hope': What would you do as a local politician faced with an impossible choice of cuts?

What would you do as a local politician faced with an impossible choice of cuts?

Playwright Jack Thorne's latest work 'Hope' poses the question to audiences
Ed Harcourt on Romeo Beckham and life as a court composer at Burberry

Call me Ed Mozart

Paloma Faith, Lana del Ray... Romeo Beckham. Ed Harcourt has proved that he can write for them all. But it took a personal crisis to turn him from indie star to writer-for-hire
10 best stocking fillers for foodies

Festive treats: 10 best stocking fillers for foodies

From boozy milk to wasabi, give the food-lover in your life some extra-special, unusual treats to wake up to on Christmas morning
Phil Hughes head injury: He had one weakness – it has come back to haunt him

Phil Hughes had one weakness – it has come back to haunt him

Prolific opener had world at his feet until Harmison and Flintoff bounced him
'I have an age of attraction that starts as low as four': How do you deal with a paedophile who has never committed a crime?

'I am a paedophile'

Is our approach to sex offenders helping to create more victims?
How bad do you have to be to lose a Home Office contract?

How bad do you have to be to lose a Home Office contract?

Serco given Yarl’s Wood immigration contract despite ‘vast failings’
Green Party on the march in Bristol: From a lost deposit to victory

From a lost deposit to victory

Green Party on the march in Bristol
Putting the grot right into Santa's grotto

Winter blunderlands

Putting the grot into grotto
'It just came to us, why not do it naked?' London's first nude free runner captured in breathtaking images across capital

'It just came to us, why not do it naked?'

London's first nude free runner captured in breathtaking images across capital